Bitcoin KRW 49 million, Ethereum KRW 3.4 million… Cryptocurrency continues to decline


On the 21st, at Bithumb Gangnam Center in Gangnam-gu, Seoul, an employee is passing by a market monitor for cryptocurrencies such as bitcoin.
Major cryptocurrencies, including Bitcoin, continue to decline. Following China, the U.S. also showed warnings and regulatory movements on cryptocurrency, and market negatives are overlapping.

As of 4:6 pm on the 21st, Bitcoin was traded at 4,9582,000 won, down 3.4% from the previous day on Upbit, a domestic cryptocurrency exchange. Bithumb recorded 4,9426,000 won, down 4%.

Ethereum is trading at 3.46,000 won, down 4.12% from the previous day based on Upbit, and 3.42,000 won, down 5.5% from the previous day based on Bithumb. Dogecoin is maintaining the level at 482 won, down 4.12% from the previous day on Upbit, and 484 won, down 5.8% from the previous day on Bithumb.

At the same time, at CoinMarketCap, a global cryptocurrency market relay site, Bitcoin increased by 0.1% from the previous day to $41,231 (about KRW 43.8 million), Ethereum rose by 2.9% to $2766 (about KRW 3.12 million), and Dogecoin increased by 7.5%. It traded for 0.4 dollars (about 445 won).

Unlike overseas markets, which have rebounded somewhat, major cryptocurrencies continue to decline in Korea. This is attributed to the fact that the’Kimchi Premium’, which shows the domestic market price higher than the overseas market, was large. The day before, Bitcoin’s kimchi premium once reached 20%. Currently, it is in the 9% range.

The bad news of the cryptocurrency market continues. The recent collapse of Bitcoin, etc., is believed to have affected China’s strengthening of cryptocurrency crackdowns, and Elon Musk Tesla’s decisive behavior toward bitcoin, while the U.S. Central Bank and the Treasury Department also emphasized and taxed the risks of cryptocurrency Through the cryptocurrency regulation movement.